Popular Patek Philippe Models Are Still Declining After The Launch of The Cubitus

On October 18th, Patek Philippe launched its first new men’s collection in a quarter of a decade, the Cubitus. This announcement stirred some polarizing reactions. While there’s still not enough data detailing secondary-market transactions to analyze, we decided to look at how the launch has affected the performance of other popular Patek Philippe models currently traded on the secondary watch market. 

 

Now, before we get into details, we need to remember that, according to the PP25 Index on Wristcheck, the performance of the 25 most-traded models on the secondary has been declining before Cubitus saw the light of day, which is consistent with the market situation at large. You’ve heard this plenty of times: the economy is slowing down and people’s spending habits become more conservative. 
 

After October 18th, PP25 dropped again and, on December 1st, it reached its lowest value over the last year of 63,999. Similar behavior was exhibited by the PP-NAU15 Index, which tracks the performance of the 15 most traded Nautilus models on the secondary market. After October 19th, its value dropped to 61,075 as of December 1st. The Aquanaut watches follow the same trend – the value of the PP-AQU15 Index dropped to 66,676 after the launch of Cubitus. 

But let’s take a look at some specific Patek Philippe watches currently on the secondary market and their performance post-Cubitus launch. 

Nautilus Annual Calendar Steel Black Dial

The ref. 5726/1A-001 has probably suffered the biggest drop on the secondary over the past 90 days. On October 19th, the model was valued at US$ 77,779 (which was a recovery from a dip it suffered on October 5th). But, at the tail end of October 2024, the ref. 5726/1A-001 began to decline again until it reached a new low of US$ 75,947. Still, despite this unfortunate performance and largely due to Patek Philippe’s highly controlled supply of watches, the stainless steel-and-black-dial variant of the Nautilus Annual Calendar is still valued at about 32.79 percent above retail. 

Nautilus Chronograph Steel Blue Dial

Another curious case is the ref. 5980/1A-001. The blue-dial variant of the Nautilus Chronograph has been losing its value slowly but steadily over the past three months. The extent of this decline, however, increased after October 19th – the model began losing nearly one percentage point every week until it reached the value of US$ 108,432 on December 1st. This, however, did not diminish the variant’s status as one of the most covetable models on the secondary market, for its current value is still almost three times that of what one would pay for it at a boutique. 

Aquanaut Rose Gold Brown Dial

One of the few models on the PP25 Index that actually gained in value on the secondary watch market after the Cubitus launch (albeit merely one percent). Yes, on October 26th, the ref. 5167R-001 did suffer a significant drop, but it recovered on November 17th and continued to climb up ever since. As of December 1st, the model rests at US$ 87,353, which is more than 90 percent above its retail value.

Nautilus Selfwinding White Gold Blue Dial

Now, let’s look at what happened with Patek Philippe’s classic. The ref. 5811/1G-001 suffered a slight dip on October 26th, reaching the value of US$ 152,132 on November 10th and then, a week later, came up to just cross the threshold of US$ 153k before going down again and resting at US$ 151,609 as of December 1st. All these fluctuations constitute about 0.4 percent growth for this model on the secondary watch market. 

Aquanaut Chronograph White Gold Green Dial

Another icon from Patek Philippe on our list is the ref. 5968G-010. Compared to the white gold Nautilus, however, the performance of the green-dial Aquanaut is less optimistic. The model has been dropping on the secondary since early September. After the launch of Cubitus on October 18th, the watch declined even more. As of December 1st, the ref. 5968G-010 is valued at US$ 117,194, which is still about 50% above its retail price.